MOODY’s upgrades up one notch the rating of MAPFRE GLOBAL RISKS and MAPFRE ASISTENCIA

MOODY’s upgrades up one notch the rating of MAPFRE GLOBAL RISKS and MAPFRE ASISTENCIA

5 ( 2 votes )

The rating agency Moody’s has raised up one notch the credit rating of MAPFRE ASISTENCIA and GLOBAL RISKS, from “A3” to “A2”, while maintaining stable prospects for both companies.

This decision was made days after Moody’s revised upward the sovereign rating of Spain to “Baa1” (two notches below).

In its note, the agency explains that the improvement reflects the financial and business principles of both companies, as well as the support that comes from being integrated in the Group’s parent company. “MAPFRE’s credit profile benefits from a very wide commercial and geographic diversification, high and stable operating profitability and strong capitalization,” explained Moody’s.